Beite Technology to deregister wholly-owned subsidiary for efficiency

Shanghai Beite Technology Group Co., Ltd. announced its decision to deregister its wholly-owned subsidiary, Shanghai Beite Automotive Parts Co., Ltd. The resolution was passed during a board meeting on December 9, 2025. This strategic move aims to optimize resource allocation, enhance organizational structure, reduce management costs, and improve operational efficiency. The company’s management has been authorized to handle all related deregistration procedures.

Shanghai Beite Automotive Parts Co., Ltd., established on January 29, 2007, with a registered capital of yuan 10,000,000, produces electric power steering systems and pneumatic shock absorbers, along with technical development and sales of automotive components and metal products. As of September 30, 2025, the subsidiary reported total assets and net assets of yuan 16,366,800.26, with a net profit of yuan 107,423.03 for the first nine months of 2025. In 2024, it reported operating revenue of yuan 6,121,255.89 and a net loss of yuan 39,409.55.

The company asserts this deregistration will not adversely impact its business development, sustained profitability, or consolidated financial statements, nor harm the interests of the company or its shareholders. The deregistration does not constitute a related-party transaction or a significant asset restructuring, thus not requiring shareholder approval.